Ramp Metals Announces Closing of Oversubscribed Non-Brokered Private Placement for Proceeds of Approximately $3.425M

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[{"type":"text","content":"Ramp Metals Announces Closing of Oversubscribed Non-Brokered Private Placement for Proceeds of Approximately $3.425MVancouver, British Columbia--(Newsfile Corp. - May 26, 2025) - Ramp Metals Inc. (TSXV: RAMP) (\"Ramp Metals\" or the \"Company\") is pleased to announce that the Company has closed its previously announced non-brokered private placement financing (the \"Financing\") for total proceeds of $3,464,917.74. Due to investor demand, the Company increased the size of the flow-through portion of the Financing from $2.3M to approximately $3.07M.In the Financing, Ramp Metals issued and sold an aggregate of 1,481,482 charity flow-through common shares (the \"CFT Shares\") at a price of $2.07 per CFT Share, plus 295,000 common shares (the \"Common Shares\") at a price of $1.35 per Common Share. No finder's fees were payable in connection with the Financing.The Company plans to use the proceeds from the issuance of CFT Shares for critical mineral exploration expenses at the Company's Rottenstone SW property in Saskatchewan, Canada. The proceeds from the sale of the Common Shares will be used for both exploration expenses and general working capital.All securities issued in the Financing are subject to a hold period in Canada until September 24, 2025, in accordance with applicable securities laws.The CFT Shares will qualify as \"flow-through shares\" (within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the \"Tax Act\"). An amount equal to the gross proceeds from the issuance of the CFT Shares will be used to incur eligible resource exploration expenses which will qualify as (i) \"Canadian exploration expenses\" (as defined in the Tax Act), (ii) as \"flow-through critical mineral mining expenditures\" (as defined in subsection 127(9) of the Tax Act), and (iii) as \"eligible flow-through mining expenditures\" within the meaning of The Mineral Exploration Tax Credit Regulations, 2014 (Saskatchewan) (collectively, the \"Qualifying Expenditures\"). Qualifying Expenditures in an aggregate amount not less than the gross proceeds raised from the issuance of the CFT Shares will be incurred (or deemed to be incurred) by the Company on or before December 31, 2026 and will be renounced by the Company to the initial subscribers of the CFT Shares with an effective date no later than December 31, 2025.The closing of the Fina...

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